Brighton & Hove Seaside Community Homes Limited TRUSTEES'IDIRECTORS, REPORT AND FINANCIAL STATEMENTS for the year elided 31 March 2024 Chnrily Yegistrnlion number ND. 1133436 Co]Mpan￿ Registration No. 06861227 Cl)arily registration iiun)ber No. 1133436 Conipaiiy R¢8istralion No. 0686l227 Brighton & Hove Seaside Community Homes Limited LEGAL AND ADMINISTRATIVE INFORMATION DIRECTORS J D Allen C J Carlisle (Cliair) C l El-shabba L J Holden M A Jasper E M Loughran C Moquet K fvl Pi¢kell P S Ivoodgate CHIEF EXECUTIVE OFFICER S Bulbeck Co￿1pANy NUMBER 06861227 CHARITY Nu￿[BER 1133436 REGISTERED OFFICE Unil F, Hove Technology Ceiitre Si Josepli's Close Hove AND oPE￿TIONs ADDRESS East Siissex BN3 7ES AUDITOR Chariot Hoiise Limited, 44 Grand Parade Brighioii East Siissex BN2 9QA SOLICITORS Troivers & Hainlin 3 Buiihill Roiv London ECIY 8YZ BANK Santaiider UK PIC 2 Trilon Sqiiare Regent's Place Lundoii NIVI 3AN FINANCIAL ADVISORS RSM Corporate Fiiiaiice LLP th 6 Floor 25 Farringdon Sireel Loiidon EC4A 4AB Brighton & Hove Seaside Community Homes Limited TRUSTEES, AND DIRECTORS, REPORT For the yeai. ended 31 March 2024 The Iruslees. Ivho are also directors of the charity for tlie Plirposes of the Con)panies Acl, presei)I their ani)ual report and tlie fiiiancial statemeii15 for Ilie year ended 31 Nqiirch 2024. The Iruslees confirni that these accounts coiiiply lviih current slaliilory reqiiirenieiilg, th¢ Finaiicial Reporting Standard applicable in the U.K. and Repiiblic of Irelaiid (FRS102) (effective froI)Tr l Janliary 2019) folloiving the Cl)arilies SORP, and iviih the terms of the conipany'5 Nleinorandiini and Articles of Associalioii under ivhich it is governed. The tnistees have had due regard lo the public benefit guidance piiblished by the Charity Comniission. STRUCTURE Tlie charity is a coiiipany limited by guarantee and registered under rlie Conipanies Aet 2006, regisiraiion niii)Iber 06861227, arid is govenied by a fvlemorandiini and Articles of Association Il)at delern)ine its legal fran)eivork. It ts a registered charity. niimber 1133436, Th¢ conipilliy ivas incorporated on 27 March 2009 and is regÉslered in England and Ivales. It ivas registered as a charity 0114 Janiiary 2010. Tlie charity is a Public Benefit Entity. TRUSTEES The folloiving trustees have held office since l April 2023.. J D Allen C J Carlisle C l El-shabba L J Holden M A Jasper E L Loii£hran M B Nlears C Nloquel A Phillips K Pickell G Williaiiis P S Woodgate (Appointed 30106123} (Appointed 12105123) (Appointed 12105123) (Appointed 19106123) {Re5i8ned 12106123) {Re5igned 116123) (Appointed 06107123) (Resigi)ed 18141231 STRUCTURE, GOVERNANCE AND fvIANAGEfvIENT BOARD OF TRUSTEES (DIRECTORS) The board of Irlislees is responsible for Ihe slrRlegic direclioi), Eovernan¢e, and performai)¢e n)oniiOrirtg of the orgxnisalion. It meets six liiiies per Ye￿r. Uiider the reqiiirenients of tlie Memorandiini aiid Arlicle5 Of Assoei£i1ion, board iiieiiibers are comprised of Briglilon & Hove City Coui)cillors, Council Tenan15, Aiid Independents. To be quorale tliere musl be al 1¢¢1SI five boll rd iiiemb¢rs preseiil ivlien board decisions Hre Inade, The day-lo-dAy iiiai)ageinenl of the organisalion is delegated lo Ilie C'hief Execiilive. RECRuIT￿lENT AND APPOINTNqENT OF TRUSTEES {DIRECTORS) CoLincillor board tneinber5 are appoiiiled by Brigliton & Hove City Coiiiicil IBHCC). Tlie couiicil has Ilie riElit lo api)oinl aiid reiiiove tl)e council board Ineii)b¢rs independeiit of aiiy rights coiincil company rneillbers may have. Coiiiicil Tenants iiiay Serve Iliree ternis of tliree years. Tliey are elected to the board as resiili of selection by COLincil leni£ nl area panels. Independents are recriiiled by ivay of opel) advertisemei)l and may serve tliree terms of three years. Tl)ey %r¢ recrliiled for Il)eir leclinical expeitise in relevant areas SLICII <1S IIoLisiiig, laiv, development. fiiianee, and l)Liinai) resoiirces. All tr1151ees receive an iiidiiclion briefing iviih referei)ce lo relevant documeiils including exlen)al giiidlince aiid are encoiiraged to alleiid training in relt)lioii lo their responsibililie5 as a Iriistee. All trLislees give tlieir lin)e volLinlaril)' aiid receive no benefits. Bi-ighton & Hove Seaside Community Hornes Limited TRUSTEES, AND DIRECTORS, REPORT For the yeai. ended 31 March 2024 REMUNERATION OF SENIOR STAFF The pay of senior staff is set by the board of Irlislees. In vieiv of the nLliire of the charity, the coillplexity of ils financial n)odel and the expertise required, the twslees benchniarked against senior housing roles in the piiblic sector. PARTNERSHIPS Tlie company ivorks in partnership ivith Brighton & Hove City Coui)cil lo deliver Services that effectively address hotnelessness in Brighton & Hove. The partnership is A key factor in the siiccess of the organisalion so farand is esseiilial to continuing provision of 5uilable siib-market rented hoiising for homeless people. PUBLIC BENEFIT The Charities Act 2011 r¢qiiires all charilies lo consider expli¢illy hoiv dieir charitable aims llre carried out for the piiblic benefit. The board of ITiislees must,. ensiire that Iliey cary out tlie aims of Brighton & Hove Seaside Conimunity Honies for the public benefit. have regard lo the Charity Commission's giiidaiice on public benefit. and repori on Brighton & Hove Seaside Coillmiinity Hort)es' piiblie benefit iii the triistees, annual report. The board of trustees has considered tl)ese requiremeiils aloii85ide the company's cl)arilable piirpose and its aclivilies, all of i¥hich are detailed in this report. It is salisfied that Ilie con)pany has charitable aiins that are carried out for the public benefit, in particular.. the benefits to individuals and families are clear and iii line with the conipany's cliarilable objectives, the beneficiaries are entirely appropriale 10 the aims. and there 15 no private benefit. BENEFICIARIES Tlie ¢oi)Ipniiy coinmenced ils main aclivilies on l Noven)ber 201 I, and at 11)e lini¢ of ivriting this report the company has acqiiired Aiid reflirbished 499 properties, Ivhicli have beeii SLibseqiienily lel lo liomeless siiigle people or Iionieless ramilies. RISK ￿ffANAGEMENT AND INTERNAL CONTROLS The board of Ir115tees is responsible for ensuring that the coii)pany operates effectively and acl)ieves its objectives. Tlie board acki)oivledg¢ their uliiinale r¢spoiisibility for en511ring th#1 the conipai)y lias in plllce a soiind system of internal ¢ontrols Ihtlt are appropriate to the vari0115 biisiness environnienls in ivhich il operates. These coiilro15 fociis on the significant risks that tlireaten the conipany'5 ability lo nieet ils obje¢live5 and provide reasonable assurance iviil) respect lo: 11)e reliability of key informalion and perlormance indicators used ivitl)iii 11)e coinpany or for piiblicalioi). the niainlenance of proper records. the Safeguarding of assets a8ainsl iiiiaiiihorised use or disposal. Systems, and procedures to Iniligale those risks- and the implernenlalion of procediires desigiied 10 mii)ii))ise or niaiiage any potential iiiipact on the compai)y sl)ould those risks malerialise. Thes¢ a¢tiviii¢s have identified that the key financial risk for the conipany is iiieeling ils loan covenants sel out in ils Facility Agreement. The key elemeIil of t))anaging this risk is close monitoring and revieiv of the company's perfori))aiice againsi the financial niodel agreed %viih ils lender, by senior man¢igetnenl and financial advisors, ensiiring that there t¢re sufficient funds lo cover the compaiiy's fuluie fit]an¢ial ¢ommilm¢nts. Allenlion has also been fociissed on non-financial risks arising froin Health & Safety responsibilities, Tliese risks are InaiiAged by rJ)oiiiloriiig th¢ perforniance of the nianagiiig agent throiigh key perfomiance iiidicators lo ensure compliance with Healih & Safety legislalioi). Specifically focLissing on Gas Safety. Elecirical Safety, Fire Safety, Asbestos Managemei)I, Legionella Management and Dainp, Nlould & Condensation. The board recognises that performaiice indicators have an iinporlaiit role in assiirance by alloiving the board lo assess ivhelher tl)e organisalion is meeting ils objective5. Key performanee indicators are reported to board nieelings. OBJECTIVES AND ACTIVITIES PRINCIPAL ACTIVITIES Tlie piin¢ipal &Clivilies of the coinpany are the redevelopmei)i and refiirbisliiiienl of enipty properties and Ilie ongoing provision of sub-niarkel rented acconiniodalion for homeless people or Ihose Ilir¢alened iviih homelessness. The cornpany lills acliieved aiid conliniies lo seek lo achieve these objectives by raising investment, leasing eoui)cil stock ii) need of refiirbishiiient,. refLirbisliing il lo Decent Homes Standards and Ilien iilili5ing il for Ilie piirposes of the ¢liarilable objectives of the eon)pany as sel oiil beloiv. BHCC liave beeii able lo re-invest Ilie capital receipl received for the leases into refiirbishiiig IOOQ/o of its oivii hoiising stock lip to Deceiil Homes Standards, CHARITABLE OBJECTIVES The objects for ivhich the conipaiiy is eslabli5hed are,. lo provide for reiit11011ses or hostels and any associLled an)eIiilies for persons in neces5110115 circiimslanccs iipon ienns appropriRle lo their niean5' to provide for aged, disabled {Ivhelher nienlHlly or physicAlly) or chroiiically sick persons in need thereof hoiis¢s or liostels and any associated an)enilies speci fically designed or adHpi¢d lo meet the disabilities and reqiiireiiienls of siich persoiis. lo provide services, advice or assislance Iipon lernis appropriate to their ni¢ans lo aged, disabled (Ivlieiher n)entally or physically) or ¢hroni¢ally sick persons iii iieed tELereof and providing aiiy associated amenities specially designed or adapted lo Ineel Ilie di5abililies aiid reqiiireinenls of 511ch persoiis- the r¢lief of povety anioiigsl the residei)ts of the local aiitl)orily area in ivlii¢h the company owns or n)aiiages h0115ill8 stock. tlie advai)ceinenl of edu¢alion, Iraiiiing or retraining, particularly aiiiong iiiien)ployed people Thnd providii)g Lineinployed people Kvitli ivork experieii¢e; and tlie n)ainlei)ance, improvement or provisioi) of public an)enilies for the public benefit ii) the iiileresls of regei)eratioii in areas of social ai)d econoinic deprivation in Ilie administmtioi) area ofthe Council. EQUALITIES AND INCLUSION The col￿panY oper1L les eqiial opporliinity policies and procediires ii) all aspects of ils work. By impleiiieiitiiig Iliese policies and procedlires tlie col￿p¢￿nY seeks to ei)siire that it does nol discrii)iinate against ai)y per801) or oll)er orgaiiisalioii on the groLinds ofrace, disability, iiatiojiality, gender. sexiiality, age, religion, respoiisibilily lor Brighton & Hove Seaside Community Hoines Limited TRUSTEES, AND DIRECTORS, REPORT For the year ended 31 March 2024 dependents. Iinr¢laled Criminal aclivilies, bein8 HIV positive or having AIDS slatLlS, or aiiy other niallers ivhich caiise a person lo be treated ivith injustice. Tlhe company 5eek51o folloiv best professional practice in relation lo equal opportiinities and to comply iviih al I relevant legi51atioii as well as Staliilory aiid other o￿le1￿1 giiidance and codes ofpraclic¢. ACHIEVENfENTS AND PERFORMANCE The conipany comnienced its main activities on l November 2011 ivhen it leased its first baicli of sixly-one pioperlies. Since that lime, it has leased, refurbished, and brought back into use four liiindred and ninety-nine empty homes, niany of ivl)ich ¥vere a bliglil on the con7miinity. altracling aIili-sociil behaviolir and vaiidalisin. The iiiilial ii)ve81inenl of £28.5M brought all company hoiisinE UP to Decenl Honies Siaiidards and the capital receipt received by BHCC alloNv¢d the COLincil to do the same iviih its own housing stock. Tlie leasi1)8 and refurbishment of these properties provides a good qiiality, home for local single people and fainilies Ivho niay oiherivise be housed in Linsuilable temporary accommodation, or in Bed & Breakfa51, or in either of these 01115ide of Brighton & Hove, aivay from a hoL15ehold's support net¥vorks And services siich as GP'S 8nd local schools. All the con)pany's properties are lei al siib-markei rents and are self-conlained, Ineaning beneficiaries do not hAve lo share bathroorn and cooking facilities ivilh olli¢r holiseholds. Tlie compaiiy is the largest re5idenliJl leaseholder of COLincil properties in Il)e city ajid provides over 250/0 of the temporary housiii8 iiscd by BHCC for people in hou.sing need. It has hoiised 1,4()7 hou.%eholds sinee trading begai), and bllLLessfLilly nioved-on 107 tenants inln social housiiig in 2023124. Tlie average leiigih of slay for Iliese tenants Ivas tl)ree years and five moiiilis. Tl)e compAny lias appointed a nillna8iTig agent to maiiage 11)e properties 01) 115 belialf and agreed a set of key perforinance indicators lo ensiire ils service is delivered lo a liigh siai)dard. Tliese are provided ai)d revieNved on a nionlhly and quarterly basis. FINANCIAL REVIEW The company'5 priiicipal financial iiislriimeiils coinprise bank balances, trade debiors, trade creditors and loans lo 11)e coinpaiiy. Tlie ii)aii) piirpose of these instruments is lo fii)ance 11)e company's operations. The ¢onipany received £5,294,240 (2023: £5,160,484) in reveniie and liad £5,456,705 (2023: £5,332,059) oiilgoings in 2023124. aiid the resiili of tlie ye14 r ivas net expendiliire of £162,465 (2023: £171,575). Tlie company has a forly-year blisiness plan to cover the financing lind manii¥enient of 115 ciirrenl leasii)g prograinme. While the company ciirrenily has a deficit of reserves this ivill 8radually reverse in line ¥viih tlie projections froin Ilie detailed financial niodel ivhi¢h iinderpins ilie forly-year bLlSiness plaii, and a sigiiificanl Slirpliis 15 anticipated at the end of the project. The Iruslees are ple41sed 10 report that the biisiness plan aiid the fiiiaiicing arrai)geinenl iviili Sanlander indicate appropriate funding for Ili¢ coiiipany lo operate. As a r¢sull of Il)e assuraiice giveii by tli¢ robii%t fiiiancial forecast iviil)in Il)e detailed financial niodel (Ivhicli is siibjecl to additional external revieiv and aiiditing) Ilie board are satisfied that ilie company has adeqiiate resources to contiiiu¢ lo operate for Ilie foreseeabl¢ tuliire. On Iliis basis the priIiciple of a going concern has beeii operated in th¢ preparatioii of Ilie financial statemenly. RESERVES POLICY The long.lern) fiiiai)cial plan ai)d projections prepared have anlicipaled reserves, alihough Il)ese are in deficit al present Llnd ivill be for 50nie linie lo come. Hoivever, the board 15 keeii lo desigiiale parl of the cliarity's cash flinds lo be used for casli i'eserves and in ihe liglil of the iiiain risks to the organisalioii ha5 decided lo set aside three iiionihs overheads And operating costs plLlS rediindancy costs for su¢h a puipose. The generation of Iliese reserves vill eiiable the charity lo conliiiiie 10 511pporl the delivery of organisalional objectives providing workiiig capital fuiiding for runiiiiig costs a5 ivell as a biiffer for ui)foreseei) expeiidiliire, variations in casl) floiv ivhich ivill eiisiire that the conipany Cali conliniie service ilie debi ai)d coinply iviih all debt covenaiils. Bi"ighton & Hove Seaside Communily Homes Limited TRUSTEES, AND DIRECTORS, REPORT For tlie year ended 31 March 2024 FUTURE PLANS Having eornpleled its progrRiiime lo lease and refiirbish properties for ihe use by honiele55 single people and hon)eless fan)ilies. the company's fociis is conceiilrated on ensiiriiig the suc¢es5 of Ihe prograninie in tern15 of ongoing qiiality ofaccommodatioii and servi¢¢ delivery, tenant engagement in tenms of improving Ilieir environments and ivell-beinE. and on consolidating ils p&rtnership ivork aiid relalioiisliips wilh ils key 51akeholders. Fuliir¢ 5trate8iC direction ivill see Ihe company fociis ils efforts on acquiriiig further properties to meet housing need in the Brighioii & Hove area. It has prodiieed a sel of proposals for Coiisideralion by ils key stakeholder and remains open lo fLiriher oppoi'lunities to provide other Services vviiliii) ils charilable objects. Hoivever, future plans to acquire furilier properli¢s have been, and are likely to conliniie to be delayed by, th¢ deGisioJi-Inaking processes and timescales of siaLehold¢rs and institiilions, acces5 to finance and possibly property market conditioiis. In addition lo ils Core activity the company continues to slreTigilien its infraslruclure aT]d capacity lo ensure sufficient siipport and sysleins are iii place to thrther ils charitable objects. The company is also focused on ensuring tlial tenants are provided with a meaningfiil voice. Teiianl Engi& gement aciivilies aiin lo enable tenants lo scrulini5e and feedback oil the services tliey receive, participate in activities that enrich their lives. and provid¢ opportiinilies for training. improving their eftviroi)menls ond increasing Ih¢ir iyell-being, Additionally the company maii)lains a clear focus on the health & safety of ils tenants, ensuring that the con)pany aiid ils l))ansigiiig ag¢nl lak¢ all necessary steps lo comply Nvilli legislation and good practice in the manageinenl and provision of ils homes. Tlie coi)IillE year ivill see Il)e ¢ompAny inve.st in providing HrJu.sing.Relaied Siipporl for tenants impacted by the Iv¢lfare-b¢n¢lil cap iviih a vieiv 10 niiligating ils impact on hoiiseliolds, TRUSTEES, RESPONSIBILITIES The lrnslees (Ivho are also director5 of Brighton and Hove Seaside Cominunity Homes Liiniled for the purposes of eoihpai)y laiv) are responsible for preparii)g the Triislees, and Directors, report and tl)e fiTiancial slalemeiils iii accordance iviih applicftble lttiv ai)d Urtited Kingdoiii Accoiinling Standards (Uiiiled Kingdon) Generally Accepted Accuiinliiig Praclicel. Company laiv reqiiires tlie directors lo prepare fin?( iicial stalen)enls for eacli financial year ivl)iLh give a IriiL Mnd fair vieiv of Ilie slate of afyairs of the conipany aii(l of the incomiiig resources and Application of resourccs, iiicluding th¢ income and expeiidilure, of Ilie ¢ompxlly for Ihftl period. In prepariiig these financial stalemenls, the Inistees are required to.. Select 5Ultable llccoiinlii)g policies aiid then apply them ¢on5islenily,' observe the mell)ods and prin¢iples in the c.harities SORP (FRS 102); make jiidgeinents and estimates that are Teasoiiable and prudent: 51ale ivheiher applicable ftccounling standards have beeii folloived, siibjeci to 81)y Inlllerial departiireg disclosed avd explained iii the finoncial stalenienls; and prepare Ihe finl< 1)cial slaletn¢nts on the goiiig coiiceni basis iinless It is inappropriate to presiiiii¢ that tlie onipany Ivill conlii)Lie in bLisiiiess. The Iruslees are responsible for keei)ii)g proper accounting record5 that disèlose with reasoiiable a¢¢iiracy at any liiije tl)e finaiicial position of tlie company and enc2ble Iliem lo eiisiire Ilial Ilie financial slalei))enls coii)ply ivilli tlie Conipanies Act 2006. Tliey are also responsible for 5afegiiarding Ilie assels of the company and heiice for takiiig reasoiiable steps for tlie prevention and deleclioii of fraiid and other irre8ularilies. Bt'ighton & Hove Seaside Community Homes Limited TRUSTEES, AND DIRECTORS, REPORT For tlie year ended 31 March 2024 STATEMENT OF DISCLOSURE TO AUDJTOR Tlie directors Nvho are ii) office on the date of approval of these finaiicial slaleinenls have confirtned Ihal, as far as they are aivare, tliere is no relev¢1nl aiidil ii)foniialioi) of ivhicli th¢ auditor 15 iinaivare. Each of Il)e directors l)ave coi)fimied that they have lakeii all the steps that ihey oiight lo have taken as directors in order to make themselves aiyare of any relevant audit infonllation aiid to es11< blish that it has beeii comi)Iiinicaled to th¢ auditor. This report h&s been prepared in accordance ivilh the provisions applicable io compaiiies eiitilled lo the sn)all compi1nies' exemptioii. On behalf of the board CJ Carli DIRF,CTOtlnRUS'fEL Dale.. 28" ALigusl 2024 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIGHTON & HOVE SEASIDE COMMLfNITY HOMES LIMITED Oplnion W¢ have aiidiied Ihe finai)cial statements of Brighton &, Hove Seaside Con)niLinity Homes Limited (tl)e'charitable onipany,) for th¢ >'ettr ended 31 ￿lar¢I) 2024 which coi)Iprise the Sialeinei)l of Financial Activities, the Balance Sheet, the Cash Floiy Slalenieiil and iiotes lo the finaiicial stateinents, inclLiding a suniinary of significant accounting policies. The fiiiancial reportin8 frameivork that has been applied in their preparation is applicable laiv and United Kingdoin Accoiinlii)g Standards, including FinanciAI Reporting Standard 102 'The Finaiicial Reporting Standard applicable in Ilie UK and Repiiblic of Ireland, (Uiiited Kingdoin Generally Accepted Accoiinting Practice). In our opinion the financial slalements: give a Irlie and fair vieiv of Ilie slate of the charitable company's affairs as ai 31 Marcl) 2024 and of ils ii)coming resoiirces and application of re5011rces, inclliding its incon)e and e.xpendilLire, for Il)e year then ei)ded' have been properly prepared in accordance iviih Uniled Kingdom Generally Accepted Accounting Pracliee, and have been prepared iii accordance iviil) the reqLiiremenls of the Coinpanies Act 2006. BRsis for oplnlon We condLicled our aiidil in accordance iviili Inlernalional Standards on Auditing (UK) (ISAS (UK)) and applicable laiv. Our responsibilities under those slaiidards are furtlier dcs¢ribed in the Auililor5 respoT)5ibilities for Ihe audit of the financial slalemeiils section of oiir report. We are independent of Il)e charitable conipany in accordance ivith the eilii¢al requirenienls that are relevant lo oiir audit of the fiiiancial statements in Ilie UK, including the FRC'S Ethical Stil1)dard, aiid ive have fiilfilled oiir oiher ethical responsibililies in accordance with tl)ese reqLiiremenls. We believe Ilial the aiidil evidence li'e llave obtained is siifficient ai)d appropriate lo provide a basis for oiir opinion. Coneluslons relAting lo going con¢erii Ii) auditing the finaiicilll statements, Ive have coiicluded Ihal tl)e Iriislees, Iise of the goiiig conceni basis of accounting iii the preparation of the financial statements is appropriate. Based on the ivork ive have perfonned, Ive have i)ol ideiilified any material iincerlainlies relaliiig lo cvei)Is or condilioi)s Ilial, individually or colleclively, may C¢2515i¥iiificanl doiibl on Ihe charitable con)paiiy's ability to ¢ontiiiiie as a going concern for A period of al least livelve Inonihs froni ivlien the financial siaien)eiiis are aiilhorised for issue. Our responsibilitie5 and the responsibilities of Ilie Iriislees iviih respect lo going ¢oiicen) are described in Ilie relevant seclioiis of this report. oilier information The Iriislees are responsible lor the other intormation. The other iiifomialioii comprises the iiifornialion incllided iii the annual report, other Iliaii Ilie fiiiancial slalenieiils and Olir Report of the Independent Aiidilurs Ihereon. Oiir opinion on tlie financial slaieniei)ts does riot Cover the ollier infonnation niid. except lo Ihe exlenl ollienvise explicitly stated in oiir report, Ive do not express any fomi of a5511rance coiiclusion thereon. li) coi)neclion iviil) oiir aiidit of the finaihcial stalen)enls, oiir responsibility is lo read the other infonnalion aiid, in doiiig so, consider iyheiher Ilie other infornialion 15 nialerijlly iiiconsislent iviil) Ilie fiiiancial stiileii)enls or oiir knowledge obiaiiied ii) Ilie aiidil or oiherivi5e api)ears lo be niaterially mi55lated. If ive identify siicli maleiial ii)consisleiicies or apparent rtialerial Inissl